Canadians are addicted to Real Estate

Without exaggeration on a daily basis every conversation I have with a friend, acquaintance or stranger inevitably stems from the ‘weather’ into ‘real estate’ or vice-versa. Moving back to what I wanted to share with you, real estate has always been a prime or if I may say popular choice among Canadians towards growing their equity.

Everyone that owns a home eventually wants to invest in another home. However with the uncertainty within the real estate market, due to news rules being implemented by the government & increasing interest rates the impact seems to be more psychological, well understandably.

Over the years the baby boomers have encouraged their offspring’s to get into the market & supported them through sizeable down payments. The economist discussed that we as human beings only use 400 – 500 square feet of our home towards daily activities & investing in a smaller home, good location where there is a demand for rentals would be a smart way to invest, as shelter is a primary need for survival. The larger homes are a lifestyle choice that majority of Canadians aspire to own.

Research indicates that 28% of Canadians feel the need to move every 5 years! More surprisingly, 14% of owners wish they could move every year!